ArbiLayer

WAL arbitrage

live

Live Walrus price differences between exchanges: perpetual, spot and DEX spreads after fees, with funding and depth.

Best net spread-0.05%Gate → Variational · Perp–Perp
Best perp–perp spread+0.11%Gate → Variational
Markets tracked148 venues · 8 perp · 6 spot · 0 DEX
Price range0.28%$0.0361 – $0.0362

Spreads between exchanges

Long (buy)Short (sell)SpreadNetSpread+FDepth $Funding 24hFunding 30DD/WChart
Gate logoGate$0.0361Variational logoVariational$0.0361 +0.11%-0.05% +0.11%— -0.000%— LS Chart →
Gate logoGate$0.0361Bybit logoBybit$0.0361 +0.08%-0.08% +0.08%— -0.042%— LS Chart →
Binance logoBinance$0.0361Variational logoVariational$0.0361 +0.08%-0.08% +0.08%— -0.000%— LS Chart →
MEXC logoMEXC$0.0361Variational logoVariational$0.0361 +0.08%-0.08% +0.08%— -0.000%— LS Chart →
OKX logoOKX$0.0361Variational logoVariational$0.0361 +0.08%-0.08% +0.08%— -0.000%— LS Chart →
Binance logoBinance$0.0361Bybit logoBybit$0.0361 +0.06%-0.10% +0.05%— -0.042%— LS Chart →
MEXC logoMEXC$0.0361Bybit logoBybit$0.0361 +0.06%-0.10% +0.05%— -0.042%— LS Chart →
OKX logoOKX$0.0361Bybit logoBybit$0.0361 +0.06%-0.10% +0.05%— -0.042%— LS Chart →
Gate logoGate$0.0361Bitget logoBitget$0.0361 +0.03%-0.13% +0.03%— 0.000%— LS Chart →
Bitget logoBitget$0.0361Variational logoVariational$0.0361 +0.03%-0.13% +0.03%— -0.000%— LS Chart →
Binance logoBinance$0.0361Bitget logoBitget$0.0361 0.00%-0.16% 0.00%— 0.000%— LS Chart →
Bitget logoBitget$0.0361Bybit logoBybit$0.0361 0.00%-0.16% -0.01%— -0.042%— LS Chart →
MEXC logoMEXC$0.0361Bitget logoBitget$0.0361 0.00%-0.16% 0.00%— 0.000%— LS Chart →
OKX logoOKX$0.0361Bitget logoBitget$0.0361 0.00%-0.16% 0.00%— 0.000%— LS Chart →
Gate logoGate$0.0361MEXC logoMEXC$0.0361 -0.03%-0.19% -0.03%— 0.000%— LS Chart →
Long = where you buy, Short = where you sell. Net subtracts a two-leg taker fee model; Spread+F adds the next funding payment.Updates every 15 seconds. Not investment advice.

WAL price on every exchange

ExchangeMarketBidAskPricevs medianFunding 24hVolume 24h
Bybit logoBybitPerpetual · WALUSDTPerpetual $0.0361$0.0361$0.0361-0.01% -0.012%$1.01M
Gate logoGatePerpetual · WAL_USDTPerpetual $0.036$0.0361$0.0361-0.18% +0.030%$839.9K
Bitget logoBitgetPerpetual · WALUSDTPerpetual $0.0361$0.0361$0.0361-0.08% +0.030%$718.7K
OKX logoOKXPerpetual · WAL-USDT-SWAPPerpetual $0.0361$0.0361$0.0361-0.14% +0.030%$602.0K
Bybit logoBybitSpot · WALUSDTSpot $0.0361$0.0361$0.0361+0.01% —$379.6K
Gate logoGateSpot · WAL_USDTSpot $0.0361$0.0361$0.0361+0.01% —$196.4K
MEXC logoMEXCPerpetual · WAL_USDTPerpetual $0.0361$0.0361$0.0361-0.14% +0.030%$153.2K
KuCoin logoKuCoinSpot · WAL-USDTSpot $0.0361$0.0362$0.0361+0.03% —$90.2K
Bitget logoBitgetSpot · WALUSDTSpot $0.0361$0.0362$0.0361+0.04% —$77.1K
KuCoin logoKuCoinPerpetual · WALUSDTMPerpetual $0.036$0.0362$0.0361-0.06% +0.030%$32.0K
Variational logoVariationalPerpetual · WALPerpetual $0.0361$0.0362$0.0362+0.10% +0.030%$11.5K
Binance logoBinancePerpetual · WALUSDTPerpetual $0.0361$0.0361$0.0361-0.15% +0.030%—
Binance logoBinanceSpot · WALUSDTSpot $0.0361$0.0362$0.0361+0.03% ——
MEXC logoMEXCSpot · WALUSDTSpot $0.0361$0.0362$0.0361+0.06% ——
Price is the bid/ask midpoint. "vs median" compares each market with the median of all centralized venues.

WAL arbitrage explained

Right now Walrus (WAL) trades on 8 venues we scan: 8 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Gate perp at $0.0361 and the highest bid on MEXC spot at $0.0361.

The widest WAL perpetual spread is between Gate and Variational: long WAL on Gate at $0.0361 and short on Variational at $0.0361 for +0.11% gross, or -0.05% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is -0.000% per day, which the position pays while it is open.

For a spot–perpetual (cash-and-carry) trade, the best WAL route is to buy spot on Bybit and short the perpetual on Variational: -0.08% gross, -0.28% net, with +0.030% a day of funding on the short leg.

Spot–spot WAL arbitrage (buy on Bybit, withdraw, deposit and sell on MEXC) shows -0.06% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.

Small WAL gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.

Related: WAL funding rates · WAL spread charts · Walrus price · arbitrage scanner for all coins.

Is there a WAL arbitrage opportunity right now?

The best WAL route right now is to buy on Gate → sell on Variational (Perp–Perp): +0.11% gross and -0.05% after fees. After fees it is not profitable, which is normal for liquid coins.

Which exchange has the cheapest WAL?

Gate (perp) has the lowest WAL ask at $0.0361, and MEXC (spot) the highest bid at $0.0361. Prices update every 15 seconds on this page.

How many exchanges list WAL?

ArbiLayer tracks 14 WAL markets on 8 venues: 8 perpetual, 6 spot and 0 DEX pools.

How do I arbitrage WAL without transferring coins?

Use two perpetual contracts: go long WAL on the cheaper exchange (Gate now) and short it on the more expensive one (Variational), then close both legs when the spread converges. The coins never move between exchanges.

Arbitrage for other coins

POWER +17.34%CRO +15.63%ESPORTS +9.64%BLAST +8.90%ONE +7.76%OPENAI +6.43%BDX +5.66%BAY +4.93%OURA +3.38%COOL +3.35%ANTHROPIC +3.34%EGLD +3.20%SPCX +2.95%ZIL +2.70%APPSTOCK +2.62%UPC +2.16%AI +2.15%PAID +2.03%